Except under the provision specifically mentioned by the bank, no one shall engage in making this kind of payment in a foreign country, the notice said. The bank urged citizens not to do any work related to payment abroad. The notice also warned that if anyone is violating the rules, strict action will be taken under the prevailing laws.
In April 2022, Nepal’s central bank announced the ban on import of vehicles and other luxury items citing liquidity crunch. Nepal’s foreign exchange reserves roses by about 3% in mid-December to touch $9.8 billion – enough to cover 8.7 months of imports – from mid-July levels, according to central bank data.
DISCLAIMER: I hereby declare that I do not own the rights to this music/song/Article/Art. All rights belong to the owner. No Copyright Infringement Intended.
#Central #bank #bars #Nepalese #investing #Times #India